Installment cash loans are usually short term loans and the amount disbursed under cash loans is also relatively small. Installment cash loans are usually taken to meet some unexpected and unavoidable but of small amount of expense. Installment cash loan is available in unsecured form which means borrowers are not required to provide any asset as security.
Installment cash loans being short term loans, the loan amount varies between $ 100 and $ 1000 and in some cases $1000 or more can also be provided. Usually, the loan is required to be paid in installment. In most of the cases loan is to be paid in weekly installments. Since the loan is of small amount and for short duration mostly one-two months, rate of interest charged usually remains little higher. However, the overall cost of loan remains quite low if you compare it with the situation in which you were caught.
The eligibility to borrow the loan is that you should have a permanent source of income, a savings bank of account and you should be of eighteen years or more. This loan can be used for any purpose. However, it has been seen that it is mostly used for day-to-day expenses.